January 9 (Renewables Now) - Indian solar power producer Azure Power Global Ltd (NYSE:AZRE) said on Monday it has won a 200-MW photovoltaic (PV) project in an auction held by Solar Energy Corporation of India (SECI).
The 200-MW allocation represents 80% of the total allocated capacity of the auction, Azure Power said, adding that its portion is the largest awarded by SECI.
The proposed capacity will be installed at the Bhadla solar complex in Rajasthan and is expected to be commissioned in 2019. Azure Power will sell power under a 25-year power purchase agreement (PPA) at a tariff of INR 2.48 (USD 0.039/EUR 0.033) per kWh.
Azure Power has collaborated with SECI on several solar projects exceeding 400 MW. The first scheme that Azure Power won in a SECI auction was commissioned in 2015 in Rajasthan.
(INR 10 = USD 0.157/EUR 0.132)